First Citizens BancShares to acquire Silicon Valley Bank
- Shams ul Zoha
- March 27, 2023
- 11:17 pm
WHAT YOU SHOULD KNOW
- First Citizens will purchase all loans and deposits of SVB
- Valley National Bancorp was also a potential buyer for SVB
- It is unclear whether First Citizens has acquired SVB’s private banking business
![silicon valley bank](https://investingsalary.com/wp-content/uploads/2023/03/ezgif.com-webp-maker-1.webp)
First Citizens BancShares Inc. has agreed to acquire Silicon Valley Bank after federal regulators seized it. The bank will purchase all loans and deposits of SVB, while also receiving a line of credit from FDIC for liquidity purposes.
It is unclear whether First Citizens has also acquired SVB’s private banking business. Valley National Bancorp was also a potential buyer for SVB.
Copyright © 2023 InvestingSalary. All rights reserved. IS does not provide any investment advice.
SEE WHAT IS HOT IN THE FOREX
Investing Salary provides free access to quality, truthful news for everyone, believing that information should be equally accessible. We hope that this will enable more people to stay informed about current events, understand their effects, and be motivated to take action.
If you feel that we have helped you get the right market knowledge please consider supporting us through Patreon. Even a single dollar counts.
Related news
Popular
![Vladimir Putin Signs Digital Ruble Bill: Russia Takes a Step Toward CBDC Implementation](https://investingsalary.com/wp-content/uploads/2023/07/ezgif.com-webp-maker-10-1.webp)
![Elon Musk’s Rebranding of Twitter to “X” Sparks Speculations Over @X Handle Acquisition](https://investingsalary.com/wp-content/uploads/2023/07/1093646_944480_AFP-new-logo-twitter_updates-300x171.webp)